Climate Engineering Economics

Garth Heutel, Juan Moreno-Cruz and Katharine Ricke ()
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Katharine Ricke: Department of Global Ecology, Carnegie Institution for Science, Stanford, California 94305

Annual Review of Resource Economics, 2016, vol. 8, issue 1, 99-118

Abstract: This article reviews and evaluates the nascent literature on the economics of climate engineering. The literature distinguishes between two broad types of climate engineering: solar radiation management and carbon dioxide removal. We review the science and engineering characteristics of these technologies and analyze the implications of those characteristics for economic policy design. We discuss optimal policy and carbon price, interregional and intergenerational equity issues, strategic interaction in the design of international environmental agreements, and the sources of risk and uncertainty surrounding these technologies. We conclude that climate engineering technologies, similar to mitigation and adaptation, should be a fundamental part of future domestic and global climate policy design. We propose several avenues in need of additional research.

Keywords: climate change; geoengineering; solar radiation management; carbon dioxide removal; climate policy (search for similar items in EconPapers)
JEL-codes: C61 H23 Q54 Q58 (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (9)

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Working Paper: Climate Engineering Economics (2015)
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